Following is the Balance Sheet of Bharat Steel Works Ltd as on $31\mathrm{.}03\mathrm{.}22$

$($Amount in Rs Lakhs$)-$ Refer image

Management makes the following estimates for the FY $2022-23$

Purchases up to Feb $23$ is Rs $30\mathrm{.}40$ Lakh,

during March $23$ purchases are $2\mathrm{.}10$ Lakh, Sales up to Feb $22$ are Rs

$44\mathrm{.}80$ Lakh, During March $22$ Sales is is Rs $5\mathrm{.}00$ Lakhs

Firm will acquire new Fixed Assets of Rs $3\mathrm{.}00$ Lakhs, they will be

depreciated by $10\%,$ The time for payment to the creditors and

receipt from debtors is $1$ Month $.$ The Business earns a gross profit

of $33\%$ on its sales turnover $,$ Sundry Expenses $($sales and

administration $)$ are $12\%$ of the Sales turnover excluding

depreciation of Fixed Assets $.$

You are required to prepare a$)$Projected Income and Expenditure

Statement for $2922-23,$b$)$ Projected Balance Sheet as on $31\mathrm{.}03\mathrm{.}23$